Vulcanized Fiber Segmentation
Grade (Commercial, Electrical, Bone, Trunk, Flexible, Abrasive Grade)
The global vulcanized fiber market is segmented and analyzed for demand and supply by grade into commercial grade, electrical grade, bone grade, trunk grade, flexible grade, and abrasive grade. Out of these types, the commercial grade segment is estimated to gain the largest market share of about 18% in the year 2037. The growth of the segment can be attributed to the increasing consumption of vulcanized fiber in various sectors. The increasing use of furniture across the world for various purposes with the rising construction of buildings, commercial complexes, residential buildings, and hotels is estimated to propel the market segment growth. The percentage of home construction for single families during 2019-2020 was estimated to be over 10% and the value of new construction projects is projected to be worth more than USD 1 trillion by the end of 2024 in United States. The number of applications in the construction sector such as the use of laminated fibers is estimated to propel the growth of the market segment. The growth of the market segment is also attributed to the rising agricultural sector as many of the agricultural tools are made of vulcanized fiber. The demand for vulcanized fibers is also estimated to rise owing to the low cost, high resistance to heat and cold, high efficiency, strength, and availability in various colors.
Application (Electrical & Electronics Insulation, Furniture Manufacturing, Farming Tools)
The global vulcanized fiber market is also segmented and analyzed for demand and supply by application into electrical & electronics insulation, furniture manufacturing, farming tools, and others. Amongst these segments, the electrical and electronics insulation segment is expected to garner a significant share of around 28% in the year 2037. The increasing number of electronic appliances manufactured across the world with the rising number of users is estimated to drive the market segment growth during the forecast period. The increasing safety concerns for the electricity wires to reduce electric shocks around the globe are anticipated to promote significant growth in the market. The rising consumption of electricity across the world with rising internet penetration and disposable income of people are driving the growth of the market. The non-flammable, good insulation properties, resistance to moisture, and chemicals are estimated to increase the use of vulcanized fiber for electric wires is estimated to hike the market growth.
Our in-depth analysis of the global market includes the following segments:
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By Grade |
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By Application |
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